Varonis Systems Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	660.24	623.53	550.95	499.16	473.63	390.13
Revenue Growth (YoY)	15.15%	13.17%	10.38%	5.39%	21.40%	33.29%
Cost of Revenue	144.53	131.97	93.85	71.75	69.84	59.4
Gross Profit	515.71	491.56	457.1	427.41	403.8	330.74
Selling, General & Admin	409.57	400.26	377.99	360.79	347.15	291.55
Research & Development	253.37	237.81	196.77	183.84	177.88	137.88
Total Operating Expenses	662.94	638.07	574.75	544.63	525.03	429.43
Operating Income	-147.23	-146.51	-117.65	-117.22	-121.23	-98.69
Total Non-Operating Income (Expense)	22.69	30.19	34.64	30.31	10.41	-12.15
Pretax Income	-124.54	-116.32	-83.01	-86.92	-110.82	-110.84
Provision for Income Taxes	9.04	13	12.76	14	13.7	6.02
Net Income	-130.4	-129.32	-95.77	-100.92	-124.52	-116.86
Net Income to Common	-130.4	-129.32	-95.77	-100.92	-124.52	-116.86
Shares Outstanding (Basic)	115	114	112	109	109	105
Shares Outstanding (Diluted)	115	114	112	109	109	105
Shares Change (YoY)	2.53%	2.46%	2.31%	-0.13%	3.77%	11.63%
EPS (Basic)	-1.14	-1.13	-0.86	-0.92	-1.14	-1.11
EPS (Diluted)	-1.14	-1.13	-0.86	-0.92	-1.14	-1.11
Shares Outstanding	114.81	117.55	112.55	109.1	107.67	107.51
Free Cash Flow	119.21	134.8	108.51	54.32	0.48	-3.31
Free Cash Flow Growth	-11.56%	24.24%	99.76%	11335.16%	-	-
Free Cash Flow Per Share	1.04	1.18	0.97	0.50	0.00	-0.03
Gross Margin	78.11%	78.83%	82.97%	85.63%	85.26%	84.77%
Operating Margin	-22.30%	-23.50%	-21.35%	-23.48%	-25.60%	-25.30%
Profit Margin	-19.75%	-20.74%	-17.38%	-20.22%	-26.29%	-29.95%
FCF Margin	18.06%	21.62%	19.69%	10.88%	0.10%	-0.85%
EBITDA	-132.99	-134.21	-106.53	-105.52	-109.05	-87.81
EBITDA Margin	-20.14%	-21.52%	-19.33%	-21.14%	-23.02%	-22.51%
EBIT	-147.23	-146.51	-117.65	-117.22	-121.23	-98.69
EBIT Margin	-22.30%	-23.50%	-21.35%	-23.48%	-25.60%	-25.30%
Effective Tax Rate	-7.26%	-11.18%	-15.37%	-16.10%	-12.37%	-5.43%

Updated Apr 29, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q